Maldives' new president warns treasury 'looted' during China-led boom

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Ibrahim Mohamed Solih says country’s financial situation ‘precarious’ after racking up huge debt with Beijing

The new president of the Maldives has declared the state coffers to have been looted and warned that the country is in financial difficulty after racking up debt with Chinese lenders in an infrastructure boom.

The island nation is the latest in a number of small countries where China has invested millions of dollars building highways and housing as part of its “belt and road” initiative.

Related: The Maldives has another shot at democracy – but it needs help | JJ Robinson

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Source: china
Link : Maldives’ new president warns treasury ‘looted’ during China-led boom

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